#5: (5/13/24) Early & Growth Stage Tech Startup Funding Recap!
Check Out This Week's Venture Capital Investment Summary Spanning Early & Growth-Stage US Based Environmental Technology & Enterprise Software Startups!
Every Monday, the team here at Bearhug Recruiting aggregates, researches, and publishes a recap of the prior week's fundraising activity within the early and growth-stage Environmental Technology & Enterprise Software startup ecosystem.
This research not only allows us to keep our finger on the pulse of the markets we serve, but also benefits others who, like us, enjoy analyzing the latest trends that signal investor confidence AND startup growth within what we believe are the most exciting and impactful segments!
We also hope the people and companies we feature enjoy both a virtual fist bump from the team at Bearhug, plus benefit from some additional free market exposure to amplify their mission. So, make sure to give each one a look!
Here’s this week’s startup funding recap:
ChangeEngine, led by Andrew Higashi, has raised a $10 million Series A funding round. The round was led by Threshold Ventures (Josh Stein) and joined by Struck Capital and Bonfire Ventures. ChangeEngine syncs with employee data, creates persona segments for targeted communication, aligns visual content with brand identity, and offers a suite of AI creator tools alongside a curated template library for launching workplace initiatives effectively. [Link] #HRTech #MarTech
Daloopa, led by Thomas Li, has raised a $18 million Series B funding round. The round was led by Touring Capital with participation from Morgan Stanley and existing investor, Nexus Venture Partners (Abhishek Sharma). Daloopa has developed AI-driven technology to source, organize and distribute historical dataset globally. Its AI-first approach is helping buy-side and sell-side financial institutions globally – including hedge funds, private equity firms, mutual funds, corporates and investment banks – meet time-critical data discovery requirements during earnings and model building workflows to accelerate an analyst’s time to insight. [Link] #FinTech #Big Data #Artificial Intelligence #AI Model Training #AI Model Training
Zanskar, led by Carl Hoiland, has raised a $30 million Series B funding round. The round was led by Obvious Ventures (Andrew Beebe) with participation from previous investors such as Munich Re Ventures, Union Square Ventures, Lowercarbon Capital, Safar Partners, and First Star Ventures, as well as newcomer Clearvision Ventures. Zanskar is an AI-native geothermal developer leveraging a suite of new technologies to improve the geothermal discovery and development process. In its work to decarbonize electricity generation, the company is generating a pipeline of new discoveries and increasing the scalability of geothermal power generation. [Link] #GreenTech #Renewable Energy #Predictive Analytics #New Energy #Energy Tech #Environmental Technology #Sustainability #ClimateTech #CleanTech #Energy Generation
Anetac, led by Tim Eades, has raised a $16 million Seed funding round. The round was led by Liberty Global with participation from Shield Capital (Michael Brown), The General Partnership, Anetac CEO Tim Eades and Jason Witty. Anetac is a provider of a dynamic identity and security platform that offers continuous visibility of the ever-evolving service account landscape that every organization encounters today. Its streaming approach dynamically addresses identity problems and improves organizations’ security posture. For hybrid environments, the solution offers real-time visibility, enabling users to discover, monitor and respond to the large threat surface exploited via service accounts. [Link] #Cyber Security #Data Security Platform #Identity Management #Identity Authentication #Cyber Threat Intelligence #Incident Response
Numeric, led by Parker Gilbert, has raised a $10 million Seed funding round. The round was led by Founders Fund, Menlo Ventures, 8VC, Long Journey (Lee Jacobs), and Friends & Family Capital. Numeric provides an AI accounting automation platform. Private and public companies – including Brex, Plaid, and Wealthfront – leverage it to perform technical accounting research, proactively flag data discrepancies, draft variance explanations, and automate recurring month-end close processes. [Link] #FinTech #Artificial Intelligence #Accounting #Accounting Automation Platform
Honeycomb, led by Itai Ben-Zaken, has raised a $36 million Series B funding round. The round was led by Zeev Ventures (Oren Zeev) with participation from new investors Arkin Holdings and Launchbay Capital and existing investors Ibex Investors, Phoenix Insurance and IT-Farm. Honeycomb is a P&C insurer covering landlords and condo associations in the U.S. By integrating aerial imagery and street-level photography with technologies including computer vision and artificial intelligence, the company can underwrite risks accurately and in real time, delivering value to its customers and agents. [Link] #InsurTech #PropTech #Real Estate Tech #Artificial Intelligence
Paxafe, led by Ilya Preston, has raised a $14 million Series A funding round. The round, was led by Framework Venture Partners, with participation from M12 (Peter Berg), Rosecliff Ventures, Elevate Ventures, AngelList Quant Fund, Gaingels, Mana Ventures and existing participants Ubiquity Ventures and Venture53. Paxafe delivers autonomous AI-enabled decision support for quality, transportation, and logistics leaders, helping them extract value and resiliency from their existing visibility solutions. Its SaaS platform, CONTXT, uses ATHENA LLM to translate network information into proactive recommendations that reduce product loss and optimize operations. The company empowers customers to automate, optimize, and confidently ensure the best outcomes in cold chain logistics. [Link] #Logistics #Supply Chain Management #Artificial Intelligence #Risk Management Platform #Internet of Things #Visibility Control Towers #Environmental Technology
Xona Space Systems, led by Brian Manning, has raised a $19 million Series A funding round. The round led by Future Ventures (Steve Jurvetson) and Seraphim Space with participation from new investors NGP Capital, Industrious Ventures, Murata Electronics, Space Capital, and Aloniq. Xona Space Systems is developing an independent high-performance satellite navigation and timing system to meet the needs of intelligent systems. Delivered via a secure, high-power signal from Xona’s low Earth orbit satellites, the patent-pending PULSAR™ service aims to enable the next wave of automated technology. [Link] #Aerospace #Location Intelligence #Mobile Robotics #Autonomous Systems #Autonomous Vehicles #Unmanned Aerial Vehicles #Geospatial #Satellite Imagery #AgTech #Smart Agriculture #Environmental Technology
Rapid Liquid Print, led by Schendy Kernizan, has raised a $7 million Series A funding round. The round was led by HZG Group with participation from existing investors BMW i Ventures (Marcus Behrendt) and MassMutual.. Rapid Liquid Print provides 3D printers that can produce large-scale, high-resolution, soft and stretchable products in minutes. The machines are used to print customer orders across many industries, including but not limited to medical, automotive and consumer goods sectors. In addition to the printing technology, the company has developed a software platform to control the print head within the three-dimensional gel space. [Link] #3D Printing #Additive Manufacturing #Advanced Materials #Environmental Technology
Lucid Bots, led by Andrew Ashur, has raised a $9.1 million Series A funding round. The round was led by Cubit Capital (Philip Carson), with participation from Idea Fund Partners, Danu Venture Group, and existing investors Y Combinator’s Growth Fund and Gratus Capital. Lucid Bots is an AI robotics company that is committed to building productive and responsible robots that can do dangerous and demanding tasks. It engineers, manufactures, and supports its products domestically, which include the Sherpa, a cleaning drone, and the Lavo Bot, a pressure-washing robot. [Link] #Drone Data #Industrial Automation #Robotics #Robotics Engineering #Mobile Robotics #Environmental Technology
Li Industries, led by Dr. Zheng Li, has raised a $36 million Series B funding round. The round was co-led by Bosch Ventures, Khosla Ventures (Rajesh Swaminathan) and LG Tech Ventures with Formosa Smart Energy Tech Corp., Anglo American Decarbonization Ventures and Chevron Technology Ventures coming in as new investors. They joined existing investors Shell Ventures and Myriad Ventures. Li Industries is a climate tech company developing next-generation lithium-ion battery recycling technologies. The company has developed scalable direct recycling technologies for lithium-ion batteries from electric vehicles and consumer electronics. Its patented direct recycling process can recycle all types of lithium-ion batteries and generate high purity commercial-grade battery materials. [Link] #Advanced Materials #CleanTech #Environmental Engineering #Advanced Manufacturing #Recycling #Recycling Tech #Environmental Technology #Sustainability #ClimateTech #GreenTech
DatologyAI, led by Ari Morcos, has raised a $46 million Series A funding round. The round was led by Felicis Ventures (Viv Faga and Astasia Myers), with participation from existing Seed investors Radical Ventures and Amplify Partners, along with new investors Elad Gil, M12, and the Amazon Alexa Fund. DatologyAI is an AI-data curation startup that develops deep learning tools for automatic selection in data training. The company provides tools that help automate much of the creation of datasets. It identifies which information within a dataset is the most appropriate, based on what the AI model is designed to do. In addition, its tools can suggest ways to augment existing datasets with additional information, work out the best way to batch that information, or split it into more manageable chunks to streamline the model training process. [Link] #Big Data #Artificial Intelligence #Data Infrastructure #Data Integration #AI Model Training #Data Integration Platform #DevTools #ML Ops
Artisan AI, led by Jaspar Carmichael-Jack, has raised a $7.3 million Seed funding round. The round was led by LAO Holdings (Oliver Jung), with participation from other investors, including Sequoia Scout, Y Combinator, Soma Capital, BOND Capital, Anu Hariharan, Paul Daverda, Fellow’s Fund, and more. Artisan AI provides autonomous AI employees, and a unified platform to replace the entire SaaS stack, so that humans and AI can work together and enterprise teams can stop context switching. The company launched V2 of their platform at the beginning of April 2024. This release introduced Level 2 autonomy of AI agents, an improvement on Level 1, which came out in February 2023. Where Level 1 Ava required manual human review, Level 2 Ava operates on autopilot, independently crafting and sending emails in a variety of styles, without direct human input. [Link] #Artificial Intelligence #SalesTech #MarTech #Sales Automation #Marketing Automation #Sales Productivity #Sales Intelligence
Princenton NuEnergy (PNE), led by Dr. Chao Yan, has raised a $26.4 million Series A funding round. Backers included SCGC, Tech Council Ventures, and a subsidiary of LKQ Corporation. PNE has developed a low-temperature plasma-assisted separation process (LPAS™), a patented technology that reduces costs, environmental waste, and carbon emissions commonly associated with lithium-ion battery recycling. Its direct recycling approach enables higher critical material recovery rates and superior material performance compared with traditional recycling methodologies. [Link] #Advanced Materials #CleanTech #Recycling #Sustainability #ClimateTech #Recycling Tech #GreenTech #Environmental Technology
*Note: The companies we feature in our weekly recap are a very small subset of a much larger batch, carefully chosen based on our team's assessment of how each company aligns with our GTM search practice. It’s worth noting that most startups raise funding rounds privately, often long before the news is announced publicly!